Invoice tracking template

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It is necessary for businesses to keep track of their invoices and billings. This will aid them in understanding the status of received payments, have detailed information of all invoices, and know when an invoice is past due.

What can is it an invoice tracking template?

An invoice tracking template is an Excel template that is used to keep track of invoices with respect to their status: paid or not. It is a customizable spreadsheet that can be used to keep track of all your clients and their invoices. It can also be used to generate a customized invoice to each customer.

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What does the template contain?

The template consists of two worksheets:

  • The Customer worksheet

    The customer worksheet is used for keeping all the details of all your customers. It has eight (8) columns, each for different information about each customer.
    • Column A – Customer Name
    • Column B – Customer ID
    • Column C – Contact Person’s Name
    • Column D – Full company name
    • Column E – Company Street Name and Number
    • Column F – Company Town and Postal code
    • Column G – Customer’s Phone Number
    • Column H – Fax line

Invoice tracking templates

All templates come in Excel and Word fomat

  • The invoice Worksheet

    The invoice sheet contains detailed information of every invoice. This is where the details of every invoice is recorded.

    It contains fields for the necessary information that every invoice should have:

    1. Invoice Date – Date of creating invoice.

    2. Invoice Number – A number to identify each invoice.

    3. Customer Name – Name of Customer/business

    4. Due Date – The date the payment is due.

    5. Amount Due – Total amount that should be paid by the client.

    6. Total Paid – What was paid.

    7. Age – This is the total number of days the client’s payment is past due, this is automatically calculated by the sheet based on the current date.

    8. Outstanding – Amount left to be paid by the client, this is automatically calculated by the sheet and it is gotten by subtracting the total paid from the amount due.

    9. Status – This indicates the type of payment made; draft, sent, partial, paid or closed. The options have been programmed into each cell and the right option can be selected from the dropdown list.

How to use the invoice tracking template

The following are guidelines on how to use the Invoice tracking template:

The invoice Worksheet

1. Input the required customer details in the Customer worksheet.

2. Customise the heading of the invoice by replacing the Company Name and contact details with yours

3. Clear the sample data in the columns except for the age and outstanding columns so as not to delete the formulas they contain.

4. Enter the details of each invoice on each row.

Sorting and selecting

The filter capability of Excel can be used on the invoice sheet to determine which invoice to display; an individual customer or all customers.

By choosing all customers, all the customers whose details you have entered in the customers sheet and whose invoice details you have also inputted in the invoice sheet will be displayed.
For every invoice whose status is paid, that row greys out and while the others are visible.

To sort the invoices by either of the columns simply click on the dropdown button on the column you would like to use and sort either alphabetically, in descending or ascending order or as desired.

With this functionality you can choose to select only the invoice of a particular client, print the worksheet to a PDF and send to the clients as his statement.

The aging summary part automatically calculates the aging report based on the selected invoices.

  • 1. How do you keep track of invoices in small businesses?

    You can keep track of all invoices in a small business by recording and organising your invoices using an invoice tracking template.
  • 2. How to Use Excel to Manage and track Invoices?

    By using an Excel invoice tracker template to record all your invoices, you will be able to manage your invoices and know their status at every point in time. The tracker takes note of its due date and crosschecks with the current date to know if it is past due and how past due each invoice is (in days).
  • 3. How to create an invoice report in excel?

    Using the customer dropdown on the invoice, select the customer whose invoice you would like to generate, immediately the sheet is filtered to show only invoices pertaining to that customer. You can then save the file as PDF by clicking on the FILE tab and select save as PDF.
    This can be attached to an email to the client.
  • 4. Is the invoice number the tracking number?

    The invoice number can also be regarded as the tracking number as it is unique to each invoice which makes it easy to be used for tracking.
  • 5. How do you keep outstanding or create an aging report in Excel?

    An ageing report shows the outstanding balances grouped in buckets of 30days.
    This is automatically calculated by the template as it uses the Excel function SUMIF to sum all outstanding balances that are overdue and groups them in buckets based on the number of days due, that is 0 – 30 days, 31 -60 days, 61 – 90days and greater than 90days.
  • 6. Is invoice number and order number the same?

    The order number and invoice number are not the same. The order number is a unique number that is assigned to each order and it is generated sequentially when an order is created.
  • 7. Is invoice and receipt number the same?

    The invoice and receipt numbers are totally different as the receipt number is a unique number assigned to a receipt that is generated when payment is made against an invoice. While an invoice number is a unique number assigned to each invoice at the point of generating the invoice and is used to identify each invoice.
  • 8. What is PO invoice and non-PO invoice?

    A PO invoice is an invoice issued based on the client’s Purchase Order. PO invoices are typically invoices for purchases of direct goods and services.
    A non-PO invoice is an invoice issued on a procurement without the issuance of a Purchase Order by the client. It’s an invoice not associated with a PO and are for indirect procurement and discretionary spends.

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